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ArcelorMittal Plans to Shed 9,000 Jobs

European steelmaker ArcelorMittal said it plans to cut as many as 9,000 white-collar employees, or 3% of its global labor force, through voluntary exits.

ArcelorMittal said the job cuts will help achieve the company's previously announced target of reducing by $1 billion its selling, general and administrative expenses amid the global economic slowdown.